South Africa Vehicle Sales Down in October

Overall domestic vehicle sales in South Africa were at 38,752 in October 2020, reflecting a decline of 13,216 units (or 25.4%) from the 51,968 vehicles sold in October last year, according to the National Association of Automobile Manufacturers of South Africa (NAAMSA).

Approximately 3% of sales in October went to corporate fleets, meanwhile, an estimated 32,478 units (83.8%) represented dealer sales, an estimated 9.4% represented sales to the vehicle rental industry, and 3.8% sales went to government fleets, according to the NAAMSA.

Domestic sales of new light commercial vehicles in October were at 9,644 units and had recorded a decline of 3,717 units or a fall of 27.8% from the 13,361 light commercial vehicles sold during the corresponding month last year.

Sales for medium- and heavy-truck segments of the industry reflected a weak performance and at 662 units and 1,653 units, respectively, showed a decline of 178 vehicles or a fall of 21.2% in the case of medium commercial vehicles, and, in the case of heavy trucks and buses a decline of 215 vehicles or a fall of 11.5% compared to the corresponding month last year.

The October 2020 new passenger car market at 26,793 units had registered a decline of 9,106 cars, or a fall of 25.4% compared to the 35,899 new cars sold in October 2019. The car rental industry accounted for an encouraging 12.8% of car sales in October 2020.

Activity in the new vehicle market is gradually improving every month but sales remain very slow to recover to previous levels, according to NAAMSA. The country’s economy remains fragile and while the economy would slowly regain momentum, tough months were still ahead before business and consumer confidence was rebuilt.